Hon. Benjamin “Benhur” Abalos Jr., the Minister of the Philippine Department of Interior and Local Government (DILG), will open and deliver a keynote address before prominent property and investment investors at the Philippines’ largest twin investment summit and expo in Dubai.
The DILG Secretary will shed light on Philippine national and local government units initiatives on good governance, peace and order, sustainable development, ease of doing business, and effective delivery of services — elements that boost confidence of investors in the Philippines.
The inaugural Philippine Economic and Investment Summit (PEIS) and the 9th Philippine Property and Investment Exhibition (PPIE) will be held on May 12-13, 2023, at Radisson Blu Hotel, Deira Creek, Dubai. The two-day international events will be open to the public for free.
The Interior Minister, alongside His Excellency Alfonso Ver, Philippine Ambassador to the UAE, will inaugurate the twin events, which will provide a platform for top firms in property development, banking, financial, and investment sectors as well as local government units (LGUs) to woo foreign and Filipino investors to invest in the Philippines.
The Interior Minister is poised to share invaluable insights regarding the Philippine government’s efforts to strengthen transparent governance, establish dependable infrastructure, and provide efficient public services to spur economic progress.
Hon Benjamin “Benhur” Abalos Jr., said: “The active involvement of the Department of Interior and Local Government in PPIE and PEIS will exert a noteworthy impact on the Philippines’ stature as a highly attractive investment centre in the Asian region. We at DILG believe that the transparency and accountability of LGUs can instil confidence in investors.”
DILG Secretary Abalos will engage in a powerful exchange of knowledge, insights, and strategies aimed at fostering robust partnerships between the UAE and the Philippines.
HE Alfonso Ver, Philippine Ambassador to the UAE, commented: “The UAE’s impressive progress as a global model of development has been a source of inspiration for the Philippines, and I believe that we can further elevate our partnership by learning from their best practices and investment promotion strategies. I would like to commend New Perspective Media Group, organisers of the Philippines’ largest investment summit and expo in the UAE for providing a timely opportunity for businesses and investors in the UAE and the wider Middle East to explore the immense potential of the Philippine market. Through these events, we can promote mutual growth and development that benefits both our countries.”
Dr Karen Remo, CEO & Founder of New Perspective Media Group, and Chairman of PPIE and PEIS, said: “The UAE is known for its unparalleled success in facilitating international consumer, business and government events. Dubai, being a global business hub, presents the perfect venue for top property and investment firms as well as LGUs to promote their prime investment projects in the Philippines, to the more than 190 nationalities based in the UAE. Through PPIE and PEIS, NPM Group aims to further enhance the burgeoning partnership between our two nations by promoting investment opportunities.”
According to the Philippine National Economic and Development Authority, the Philippine economy grew by 7.6 per cent in 2022, positioning it as the fastest-growing economy in the ASEAN region. This growth marks the quickest rate of economic expansion for the country in over 4 decades, exceeding the government’s target of 6.5 to 7.5 per cent. Overseas remittances continue to be a strong impetus, accounting for 8.9 per cent of the country’s GDP and 8.4 per cent of GNI.
This progress will be facilitated by recent measures that have been put in place to further liberalise the economy and enhance its attractiveness to foreign investment.
Notably, the Philippine government has recently passed legislation allowing full foreign ownership of companies that provide public services, while also enacting policies to lower corporate income tax rates and rationalise fiscal incentives.
Additionally, the minimum paid-up capital requirements for foreign retailers and start-ups introducing advanced technology have been reduced.
For further information or to register for PPIE and PEIS, please visit www.ppie.ae and www.ppie.ae/peis/ respectively.
PPIE is supported by Rockwell Land and RLC Residences as gold sponsors, and Ayala Land as silver sponsor.
